hi frnds according 2 me tds rate for int on other than securities u/s 194A as well as u/s 193 to person other than ind/huf has been reduced from 20 % to 10% w.e.f 01.04.2009 but i saw d rate for d same is 20% in icai latest newsletter. please correct me if i m wrong & specify d rate 4 d same
2 Replies
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 17 November 2009
Tarun,
You are right.The rates u/s 193 for interest on securities is 10% and u/s 194A for interest other than interest on securities to a resident is 10%.
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9060 Points)
Replied 18 November 2009
Section
Nature of Payment
Threshold Limit (in Rs.)
An Individual, HUF, BOI, AOP Payments
Firm
A Co-op.Soc., Local Authority
Domestic Company
Foreign Company
Payments
< 1 crore
> 1 crore
194
Dividend other than dividend covered by Section 115-O
2,500
10
10
10
10
20.6
21.115
194A
Interest other than interest on securities (cases other than below) -Where the payer is-
5,000
10
10
10
10
20.6
21.115
(I) Banking company
10,000
10
10
10
10
20.6
21.115
(ii) Co-operative
Society engaged
in banking
10,000
10
10
10
10
20.6
21.115
(iii) Post office under a deposit scheme a deposit scheme framed by Central
Government
10,000
10
10
10
10
20.6
21.115
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